Chennai/New Delhi: Majority of banking
transactions across India were hit Friday as some one million
staff struck work to protest proposals to divest government stake
in state-run institutions, apart from demanding a host of welfare
"Nearly one million bank employees in state run, private sector as
well as foreign banks have struck work today (Friday). The
nationwide response for the strike call is good," the convener of
the United Forum of Bank Unions, C.H. Venkatachalam, told IANS in
"Cheque clearing operations have also been impacted," said the
senior office bearer of the forum, which is an umbrella body
representing nine unions in the banking industry, but admitted
that some private banks were functioning.
"ICICI Bank and HDFC Bank are functioning. We do not have a
presence in them," he added.
"We find that the government's equity capital in public sector
banks is being diluted and reduced and consequently the private
capital in our public sector banks is increasing," said Harvinder
Singh of the All India Bank Officers' Confederation.
"We demand that public sector banks should not be privatised and
government's equity capital in our banks should not be reduced. Do
not avail World Bank loan to capitalise public sector banks."
Other demands include no merger of state-run banks, no outsourcing
of permanent banking jobs to private sector, resumption of
recruitment in right earnest, give jobs to family members on
compassionate grounds and frame guidelines for housing, car and
The union officials said they will meet Aug 10 in Bangalore to
decide on the next course of action.